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Den Networks Q2 FY27 results: net profit up 4.5% to ₹36.77 crore, revenue down 3.7%
Den Networks Limited reported consolidated revenue of ₹232.56 crore in Q2 FY27, down 3.7% from the year-ago quarter, while EBITDA fell to ₹10.05 crore and margin narrowed to 4.3%. Net profit rose to ₹36.77 crore, aided by higher other income, and basic EPS was ₹0.76. On a standalone basis, revenue was ₹236.9 crore and profit after tax was ₹28.42 crore.
Key points
- Consolidated revenue was ₹232.56 crore, down 3.7% from Q2 FY26 and 4.2% from Q1 FY27.
- EBITDA was ₹10.05 crore, down 47.1% year on year, with the margin declining 3.6 percentage points to 4.3%.
- Net profit was ₹36.77 crore, up 4.5% from Q2 FY26, while basic EPS was ₹0.76.
- Other income rose to ₹60.73 crore from ₹51.71 crore, while total expenses fell to ₹241.53 crore from ₹246.15 crore.
- Standalone revenue was ₹236.9 crore and profit after tax was ₹28.42 crore.
How did Den Networks perform in Q2 FY27?
Den Networks reported consolidated revenue of ₹232.56 crore for Q2 FY27, down ₹8.87 crore, or 3.7%, from ₹241.43 crore in Q2 FY26. Revenue also fell ₹10.21 crore from ₹242.77 crore in Q1 FY27. EBITDA declined to ₹10.05 crore from ₹18.99 crore a year earlier, while margin fell 3.6 percentage points to 4.3% from 7.9%.
Consolidated net profit was ₹36.77 crore, up ₹1.60 crore, or 4.5%, from ₹35.17 crore in Q2 FY26. Against Q1 FY27, net profit rose ₹2.18 crore, or 6.3%, from ₹34.59 crore. Profit attributable to owners was ₹36.45 crore and basic EPS was ₹0.76. On a standalone basis, revenue was ₹236.9 crore and profit after tax was ₹28.42 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 232.56 | 242.77 | 241.43 | −3.7% | −4.2% |
| Other income | 60.73 | 55.40 | 51.71 | +17.4% | +9.6% |
| Total expenses | 241.53 | 250.50 | 246.15 | −1.9% | −3.6% |
| EBITDA | 10.05 | 12.68 | 18.99 | −47.1% | −20.7% |
| EBITDA margin | 4.3% | 5.2% | 7.9% | −3.6 pp | −0.9 pp |
| Profit before tax | 51.75 | 47.67 | 46.98 | +10.2% | +8.6% |
| Tax | 12.14 | 11.90 | 10.81 | +12.3% | +2.0% |
| Net profit | 36.77 | 34.59 | 35.17 | +4.5% | +6.3% |
| EPS (₹) | 0.76 | 0.77 | 0.74 | +2.7% | −1.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Den Networks' costs and profit?
Total expenses fell ₹4.62 crore, or 1.9%, to ₹241.53 crore from ₹246.15 crore in Q2 FY26. Employee cost declined ₹3.02 crore, or 17.4%, to ₹14.31 crore, finance costs fell ₹0.16 crore to ₹0.30 crore, and depreciation fell ₹4.52 crore, or 19.4%, to ₹18.73 crore. Other expenses rose ₹3.09 crore, or 1.5%, to ₹208.20 crore. There was no exceptional item.
Other income increased ₹9.02 crore, or 17.4%, to ₹60.73 crore from ₹51.71 crore, while total income rose ₹0.15 crore to ₹293.29 crore. Profit before tax increased ₹4.77 crore, or 10.2%, to ₹51.75 crore. Tax expense rose ₹1.33 crore, or 12.3%, to ₹12.14 crore, and net profit rose ₹1.60 crore to ₹36.77 crore. The filing did not provide a reason for the change in operating costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 14.31 | 17.33 | −3.02 | −17.4% |
| Finance costs | 0.30 | 0.46 | −0.16 | −34.8% |
| Depreciation | 18.73 | 23.25 | −4.52 | −19.4% |
| Other expenses | 208.20 | 205.11 | +3.09 | +1.5% |
| Total expenses | 241.53 | 246.15 | −4.62 | −1.9% |
| Other income | 60.73 | 51.71 | +9.02 | +17.4% |
| Tax | 12.14 | 10.81 | +1.33 | +12.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Den Networks reported revenue of ₹475.33 crore, down ₹7.37 crore, or 1.5%, from ₹482.7 crore in H1 FY26. Total income fell ₹13.63 crore, or 2.3%, to ₹591.46 crore from ₹605.09 crore. The company did not report an H1 EBITDA figure in the supplied data.
Profit before tax declined ₹14.32 crore, or 12.6%, to ₹99.42 crore from ₹113.74 crore. Profit after tax fell ₹17.45 crore, or 19.6%, to ₹71.36 crore from ₹88.81 crore, and EPS declined ₹0.34, or 18.2%, to ₹1.53 from ₹1.87.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 475.33 | 482.70 | −1.5% |
| Profit before tax | 99.42 | 113.74 | −12.6% |
| Net profit | 71.36 | 88.81 | −19.6% |
| EPS (₹) | 1.53 | 1.87 | −18.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
For H1 FY27, operating cash flow was ₹3.13 crore, compared with ₹11.34 crore in H1 FY26. Investing cash flow was negative ₹8.59 crore against negative ₹16.36 crore, financing cash flow was negative ₹3.57 crore against negative ₹0.99 crore, and capital expenditure was ₹10.31 crore against ₹23.82 crore. The presentation separately stated cash and cash equivalents of ₹3,417 crore at 30 September 2026.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,458 | 4,283 |
| Total equity | 3,896 | 3,826 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 10.93 | 19.96 |
| Inventories | 0 | 0 |
| Trade receivables | 153.08 | 107.25 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3.13 | 11.34 |
| Cash from investing | −8.59 | −16.36 |
| Cash from financing | −3.57 | −0.99 |
| Capital expenditure | 10.31 | 23.82 |
Source: Company's results filing (XBRL).
How has Den Networks done over the last 8 quarters?
Revenue peaked at ₹260.7 crore in Q3 FY25 and reached its lowest level of ₹232.56 crore in Q2 FY27. Revenue had risen to ₹251.01 crore in Q3 FY26 before falling to ₹240.57 crore in Q4 FY26, recovering to ₹242.77 crore in Q1 FY27 and declining again in the latest quarter.
Profit after tax was highest at ₹59.86 crore in Q4 FY25 and lowest at ₹34.59 crore in Q1 FY27, before rising to ₹36.77 crore in Q2 FY27. EBITDA margin peaked at 11.5% in Q4 FY25, fell to 5.2% in Q3 FY26 and Q1 FY27, and declined further to 4.3% in the latest quarter.
Which businesses drove the quarter?
Cable distribution network revenue was ₹227.59 crore in Q2 FY27, down 2.7% from ₹233.96 crore in the year-ago quarter. Segment EBIT was negative ₹8.01 crore, compared with negative ₹4.72 crore in Q2 FY26, while the reported EBIT margin was negative 3.5%.
Broadband revenue fell 20.8% to ₹9.47 crore from ₹11.96 crore in Q2 FY26. Segment EBIT was negative ₹0.67 crore, compared with positive ₹0.46 crore a year earlier, and the reported EBIT margin was negative 7.1%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Cable distribution network | 227.59 | −2.7% | −8.01 | -3.5% |
| Broadband | 9.47 | −20.8% | −0.67 | -7.1% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
Den Networks filed an investor presentation for the quarter ended 30 September 2026 on 13 October 2026. The company had earlier informed the exchanges on 6 October 2026 that its board would meet on 13 October 2026 to consider and approve the standalone and consolidated unaudited results for the quarter and half-year ended 30 September 2026. The supplied filings did not announce a dividend, fund raise or appointment.
What did Den Networks' management say?
Management said Den Networks operates its cable business across 425+ cities in 13 states and that DEN Broadband is its wholly owned subsidiary. The investor presentation reported 97% online collection, including subsidiaries, and highlighted zero gross debt and cash and cash equivalents of ₹3,417 crore.
Management said subscription revenue declined 15% year on year, from ₹101 crore to ₹86 crore, while placement and marketing income increased from ₹129 crore to ₹141 crore. It also identified lower other operating income and higher content cost as pressures, and said no specific expansion plans or capital expenditure guidance were disclosed in the presentation. No forward guidance was provided.
How did Den Networks shares react?
The filing was released after market hours. Den Networks fell 0.3% within five minutes, rose 0.4% after 15 minutes and was up 0.4% after 30 minutes. On the reaction day, the stock fell 3.2% from its pre-results close; by the next day's close it was down 4.3%, and over five sessions it was down 9.1%.
The industry's median move was negative 0.7% on the reaction day, negative 1.4% by the next close and negative 4.4% over five sessions. Den Networks therefore underperformed the industry median by 2.5 percentage points on the reaction day, 2.9 percentage points by the next close and 4.7 percentage points over five sessions. Earlier results-day moves included declines of 4.6% on 14 July 2026 and 4.1% on 13 October 2025.
| After the filing | Stock | TV Broadcasting & Software Production median |
|---|---|---|
| 5 minutes | −0.3% | |
| 15 minutes | +0.4% | |
| 30 minutes | +0.4% | |
| Reaction day | −3.2% | −0.7% |
| Next day | −4.3% | −1.4% |
| 5 days | −9.1% | −4.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 July 2026 | −4.6% |
| 14 April 2026 | −0.1% |
| 14 January 2026 | −0.4% |
| 13 October 2025 | −4.1% |
| 14 July 2025 | +0.3% |
| 23 April 2025 | −0.3% |
| 13 January 2025 | +1.0% |
| 10 October 2024 | −0.4% |
Source: MarketPing price-reaction measurement.
How did other TV Broadcasting & Software Production companies do?
Seven other TV Broadcasting & Software Production companies that had filed for the quarter were compared with Den Networks. Their median revenue growth was 3.6%, against a decline of 3.7% for Den Networks; three peers grew more slowly than the company and four grew faster than the company.
Three of the seven peers reported higher profit, with profit compared across all seven peers. The peer data was available as of 4 November 2026.
| Den Networks revenue growth (YoY) | −3.7% |
|---|---|
| Median of 7 other TV Broadcasting & Software Production companies | +3.6% |
| Companies with slower revenue growth than Den Networks | 3 of 7 |
| Companies with faster revenue growth than Den Networks | 4 of 7 |
| Companies whose net profit rose | 3 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Den Networks' revenue in Q2 FY27?
Revenue from operations was ₹232.56 crore, down 3.7% from ₹241.43 crore in Q2 FY26 (consolidated).
Did Den Networks make a profit in Q2 FY27?
Yes. Net profit was ₹36.77 crore, against a net profit of ₹35.17 crore in Q2 FY26.
What was Den Networks' EPS in Q2 FY27?
Basic earnings per share were ₹0.76, against ₹0.74 in Q2 FY26.
How did Den Networks shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.2% from the previous close; the median TV Broadcasting & Software Production stock moved −0.7%.
When did Den Networks announce its Q2 FY27 results?
On 13 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter And Half-Year Ended September 30, 2026. (BSE, 6 October 2026) · PDF
- Outcome of Board Meeting (NSE, 13 October 2026) · PDF
- The investor presentation (13 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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